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Australian stock market surges to 11-year high off the back of the Coalition’s shock election win
Daily Mail (UK) ^ | STEPHEN JOHNSON FOR DAILY MAIL AUSTRALIA and AUSTRALIAN ASSOCIATED PRESS

Posted on 05/20/2019 2:27:07 PM PDT by RightGeek

The Australian stock market has soared to an 11-year high on the back of the Coalition's shock election win.

Investors reacted positively to Prime Minister Scott Morrison remaining in office, with the S&P/ASX 200 index rising by 97 points to 6,462.3 points during early trade on Monday.

This was the highest point since December 14, 2007, before the the global financial crisis worsened and a month after Kevin Rudd was elected Labor PM.

...

Investors appeared to be buoyed at voters rejecting Labor's plan to deprive share-owning retirees, who don't pay income tax, from receiving franking credits.

They also rejoiced at the Opposition losing the May 18 election, after vowing to scrap negative gearing for existing properties and halve the capital gains tax discount from 50 per cent to 25 per cent.

CommSec chief economist Craig James said investors, who had expected a Labor victory, were relieved there would be no major tax policy changes following the re-election of a Coalition government for a third consecutive term.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Australia/New Zealand; Business/Economy; Foreign Affairs; Politics/Elections
KEYWORDS: australia; dnctalkingpoint; dnctalkingpoints; globalwarminghoax; greennewdeal; scottmorrison; stockmarket
Funny how that works out. Defeat the Socialist leeches and the economy takes off.
1 posted on 05/20/2019 2:27:07 PM PDT by RightGeek
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To: RightGeek

MAGA!


2 posted on 05/20/2019 2:27:26 PM PDT by dfwgator (Endut! Hoch Hech!)
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To: RightGeek

Notice the commie media didnt cover this story..gee I wonder why/sarc


3 posted on 05/20/2019 2:33:21 PM PDT by Sarah Barracuda
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To: RightGeek

MAGA


4 posted on 05/20/2019 2:33:35 PM PDT by SoFloFreeper
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To: RightGeek

Making Outback Steakhouse and Foster’s Beer Great Again


5 posted on 05/20/2019 2:34:56 PM PDT by Oscar in Batangas (Jan. 20, 2017, 12:00 PM: The End of an ERROR)
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To: RightGeek

The voters rejected Global Bullshitism and voted FOR coal...BOOM!


6 posted on 05/20/2019 2:36:11 PM PDT by ProtectOurFreedom
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To: RightGeek

I hear Biden and Obama are ready to take credit!


7 posted on 05/20/2019 2:54:45 PM PDT by Bommer (Help 2ndDivisionVet - https://www.gofundme.com/mvc.php?route=category&term=married-recent-amputeca)
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To: RightGeek

Economies breathe a lot easier without commies putting their boot on its throat!


8 posted on 05/20/2019 3:03:23 PM PDT by rawcatslyentist ("All that is necessary for evil to triumph is for good men to do nothing")
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To: RightGeek

The markets seem to like the right! :)


9 posted on 05/20/2019 3:11:16 PM PDT by TigersEye (This is the age of the death of reason.)
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To: TigersEye

LIBs are malignancies on civil societies and businesses everywhere.


10 posted on 05/20/2019 3:37:51 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: dfwgator

11 posted on 05/20/2019 3:40:04 PM PDT by Neidermeyer (Show me a peaceful Muslim and I will show you a heretic to the Koran.)
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To: RightGeek
Australia is one of the few countries in the world where every single citizen is compelled to vote under penalty of fines. This means that it is unlikely that a certain segment of voters would unexpectedly stay home, or come out in larger than expected numbers.

Apparently their polling system is extremely biased if this is a 'shock' result.

12 posted on 05/20/2019 3:41:31 PM PDT by Yo-Yo ( is the /sarc tag really necessary?)
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To: Yo-Yo

I would lie to pollsters out of principle.


13 posted on 05/20/2019 3:43:26 PM PDT by dfwgator (Endut! Hoch Hech!)
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